Porsche SE acquires stake in Aurora Labs
August 14, 2020
Congratulations to our Tel Aviv-based portfolio company Aurora Labs on their latest investment from Porsche Automobil Holding SE!
Porsche Automobil Holding SE (Porsche SE) expands its venture portfolio by investment in Aurora Labs for $ 2.5M. This represents a stake in the low single-digit percentage area. The investment in Aurora Labs supplements the future-oriented venture portfolio of Porsche SE.
Aurora Labs is specialized in the validation and verification of software in the field of automotive and connected devices. The technology of Aurora Labs is especially suitable for efficient and safe software updates via the mobile interface, so-called ‘over-the-air’ updates. This represents a fast-growing market since the amount of software-related applications as well as the requirement for instant update ability in cars will further increase in the coming years.
Compared to solutions currently available, Aurora Labs with its machine learning-based technology is able to detect and predict software errors and perform system updates to the entire car with zero downtime. If updated software is faulty, Aurora Labs’ technology can be used to immediately restore the previous software version. This comes along with a reduction of time necessary for updates by as much as 90%, leading to a substantial decline in cost for memory, data and energy consumption. The capability of Aurora Labs’ technology has already been confirmed in several proof-of-concept projects. Aurora Labs is entering serial implementation within the next two years.